Large table umbrellas are known in the art in which the umbrella is moved between open and closed positions by means of a crank. Such cranking umbrellas are of rather complicated construction and design and the mechanisms incorporated therein are ill suited for use in hand held umbrellas. Accordingly, a strong need exists in the toy art for a toy umbrella of simple design and construction that can be held by one hand and a handle rotated by the other hand for opening or closing the umbrella.